TaxAct Offers Free Tax Filing for All U.S. Active-Duty Military and Reservists
U.S. Military Members and Reservists Can Now File Federal and State Income Tax Returns with TaxAct Online 2015 Premium Bundle for Free
Cedar Rapids, IA – March 15, 2016 – TaxAct®, the leading provider of digital and download tax preparation solutions, today announced all U.S. active-duty military and reservists can file both their federal and state taxes for free. Service members can use any of TaxAct's online products to file easy, fast and free and get their maximum guaranteed refund this tax season. Military members and reservists will have access to all of TaxAct's solutions, including TaxAct Online Premium Bundle, which is comprised of all e-fileable federal forms for individual returns as well as free state returns. Free federal and state filing with TaxAct is available through April 18, 2016, this year's filing deadline.
"We appreciate everything our military men and women do for our country," said JoAnn Kintzel, president of TaxAct. "Offering free federal and state tax filing is just one way we can show our gratitude to our nation's service members and help them get the guaranteed maximum refund they deserve."
With all the forms, features and functionality filers need, TaxAct Online Premium Bundle makes it easy for military members to confidently complete their returns, no matter how simple or complex their tax situation. All TaxAct products guide military filers through an easy interview to help them identify opportunities for credits and deductions and file their taxes with ease and accuracy. For example, some of the tax deductions TaxAct can help military filers identify include:
If an individual in active duty and his or her family move due to a change of duty location, they may deduct the expenses associated with that move on their tax return. The IRS views these costs as "reasonable unreimbursed expenses." Currently, each branch of the military pays the full cost of any relocation expenses for members who don't have families. If a service member has a family, the government provides 95 percent of the standard moving costs and the rest is left up to the individual to get reimbursed or have deducted when filing their taxes.
Service members are required to wear a military issued uniform, therefore each month they are given a monthly clothing allowance for upkeep expenses. If expenses happen to exceed their allowance, that extra amount can be deducted as an unreimbursed employee expense subject to 2 percent of their adjusted gross income if they itemized deductions on their return.
Active reservist travel expenses
If an active reservist travels 100 miles or more from home to reserve duty, any unreimbursed travel expenses can be deducted. They can take advantage of the standard mileage rate for traveling and any lodging costs – including being reimbursed for half of their meals. Any subsistence allowance an ROTC student receives for advanced training is not taxable. However, active duty payment related to any events associated with advanced training camp are taxable.
Miscellaneous expense deductions
Military service members receive a variety of payment types and for tax purposes, some may be excluded from their gross income. Those exclusions include living allowances, moving allowances, travel allowances, combat zone pay and death allowances.
Additionally, personalized tax and technical help is available every step of the way, for no additional charge, in TaxAct's Answer Center and by email and phone.
Military members and reservists simply need to enter their military EIN to qualify for free federal and state return filing. This offer applies to TaxAct Online products only. Service men and women can visit www.taxact.com/military to start their free returns.
TaxAct provides the best deal in tax so individuals, business owners and tax professionals can save money on tax preparation. A leading provider of affordable digital and download tax software, the company's mission is to empower people to navigate the complexities of tax and finance with ease and accuracy at a fair price. TaxAct has long-offered a Price Lock Guarantee on its products, ensuring its customers pay the price listed for their selected product at the time they started their return, no matter when they file. TaxAct was one of the top three visited online tax preparation destinations last tax season and has assisted with approximately 60 million e-filed federal returns since 2000. To learn more about TaxAct, a business of Blucora, Inc. (NASDAQ: BCOR), visit www.TaxAct.com or connect with us on Facebook, LinkedIn and Twitter
TaxAct Public Relations
TaxAct Public Relations
1According to collective week end reports for taxact.com released by Compete Inc.